Page 62 - New Cloth Market December 2022 Digital Edition

INTERNATIONAL BUSINESS PAGES

6 percent rate of interest (BRPD Cir- During the FY23, to encourage the
Recent Measures Taken to cular No 9, Dated 13 April, 2020). Re- country’s export trade, export subsi-
Facilitate RMG Exports
cently, for the betterment of economic dies or cash incentives have been giv-
The government and the Bangladesh growth in export sector, BB reduced en for some export items from 1 July
Bank have undertaken a number of the interest rate on this refinance fund 2022 to 30 June 2023. Among them, 4
measures especially for facilitating pro- from 6 percent to 5 percent at receiver percent cash incentive has been giv-
duction and export of the RMG sector. level and 3 percent to 2 percent at bank en to export oriented garments sector,
Some important measures taken to level (BRPD Circular No-26, Dated 26 small & medium industry of garments
boost up production and export of the April, 2021). Bangladesh Bank has ex- sector and to help expanding the new
RMG sector are highlighted below: panded the tenure of loan facilities for items/new market garments sector (ex-
entrepreneurs from 01 year to 03 years cluding the USA, Canada, EU, UK).
Pre-shipment Credit: To continue the under this refinance scheme. Entrepre- Inspite of existing 4 percent cash in-
export activities of export oriented neurs can avail the loan more than one centive, additional 2 percent has been
RMG industries amid the Corona pan- time within the mentioned period given as support for the exporters of
demic, Bangladesh Bank has formed (BRPD circular no: 44, Dated 30 Sep- garments sector of EURO zones. Mor-
a refinance fund worth of BDT 50.00 tember 2021). ever, 1 percent special cash incentive
billion. RMG entrepreneurs can take has been given to RMG sector (FE
loans from this fund through banks at Incentives for Export Expansion: Circular No-26, Dated Sept. 19, 2022).

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